Home Builder Toll's Profit Soars

Toll Brothers Inc., one of the country's biggest home builders, said fiscal second-quarter profit more than doubled on strong demand and higher prices.

The Horsham, Pa., builder of luxury homes said net income in the quarter ended April 30 was $170.1 million, or $2.01 a share, up from $72.4 million, or 89 cents a share, a year earlier. Analysts had been expecting earnings of $1.79 a share. Revenue rose 52% to $1.25 billion.